LBS SNS App iWeju Completes USD 8-digit Series A

DoNews, 9/16/14

Duoju Interactive, operator of location-based mobile SNS app iWeju (Weiju), has secured USD 8-digit Series A funding led by Ceyuan Ventures. The app's founder Jiao Yi says the funding will be used principally to improve user experience and strengthen the company's development team. The round of funding is rumored to have reached USD 18 mln.

iWeju was released in October 2013, and previously obtained an RMB 8-digit angel investment from Lei Jun, CEO of Beijing-based Android device maker Xiaomi and investor in YY Inc. (Nasdaq: YY). The app allows users to make friends with strangers based on geographic location and common interests. The number of registered users on the platform has already reached 10 mln.

Editor's Note: The app's location and user interest-focused SNS model is similar to that of Chinese mobile SNS platform Momo. For more background on this topic, please see "Momo Launches LBS Advertising Platform" MD 8/15/14 issue.

Keywords: LBS Weiju Duoju Interactive Lei Jun funding wireless mobile SNS Ceyuan Ventures registered users Jiao Yi first-round VC

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